WASHINGTON - The National Credit Union Administration is weighing whether to sue third parties like investment bankers over the failure of Capital Corporate Federal Credit Union.
Officials interviewed lawyers last week, hoping to find a firm that can help the agency recoup its losses.
Sources said it is investigating the possibility of making claims against brokers that sold investments to Cap Corp, including Alex. Brown & Sons, the corporate's directors and officers, and Deloitte & Touche, the accounting firm that signed off on Cap Corp's 1993 annual report, the last one the liquidity center issued.
When the agency seized Cap Corp in January, officials said they would investigate the possibility of third-party suits. The agency started receiving inquiries from law firms about that time, said NCUA trial attorney Steven Widerman.
"We have no preconceived notions, but we have an obligation to investigate all possible claims," Mr. Widerman said.